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The graphics segment is perhaps the most competitive in the PC market, and today things are really starting to heat up.

Just three weeks ago, Nvidia launched the GTX 680 to wide spread acclaim, as it was both faster and more affordable than the HD 7970. This of course meant AMD would have to drop the prices of their Southern Islands graphics cards to counter the Kepler launch, but no official word has been released until today.

According to an email sent to us over the weekend, AMD is ready to revamp the pricing structure for most of their current gen graphics cards, effective immediately. However, they are also unveiling a new promotion called the “Three for Free” Program.

Starting with the new pricing structure, the Radeon HD 7970 will now retail for as low as $479, while the HD 7950 has an MSRP of $399. The HD 7770 is also getting an updated price tag, as it now can be found for as low as $139. There was no mention of the HD 7870 or HD 7850, so we expect those graphics cards will remain at $349 and $249, respectively.

The “Three for Free” program is a partnership between Codemasters, THQ, and AMD, where three free games will be bundled with AMD’s high-end graphics cards. The games include upcoming titles DiRT Showdown and Nexuiz, as well as the widely popular Deus Ex: Human Revolution and its DLC expansion, The Missing Link.

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